The Narragansett RI 02882 Real Estate Market
Statistics for January 2011 are as follows:
3 Narragansett RI homes sold, the breakdown is as
follows:
1 home sold for over $400,000
1 home sold for between $300,000-$400,000
1 homes sold for less than $300,000
In January 2011 there were 155 Narragansett RI homes for sale which is six more homes on the market over December 2010 homes for sale. The home inventory is showing a slight uptick with the new year and sellers prepare for the spring housing market. Sales are unusually slow right now. Choices of homes remains fairly consistent as ready, willing and able buyers are actively looking to make their purchases now while mortgage rates remain at lower levels. Some people remind me that the early 80's had mortgage interest rates up to 18% which we hope not to see again!
Narragansett RI homes sold for January 2011 were down from 8 homes sold the prior month to 3 homes sold. With the snowy and wintery season upon us, this is an unusual and sluggish pattern for Narragansett home sales. Actually the heavy snows have negatively impacted the home buying market in January in Narragansett too. We are all waiting for the snow to move North!
Pending home sales remain up which is a good indication that Narragansett home sales will be steady. There are 2 waterfront homes in pending status in Narragansett RI this past month and being a coastal home on Narragansett Bay or on the ocean is a big draw for many buyers due to recent attractive pricing of them. Two of the Narragansett homes in pending are oceanfront homes over $1 million.
Narragansett pending home sales continues with 14 homes in contract agreement by month end. There were 2 additional homes in pending than the prior month indicating that demand remains steady as buyers still are actively looking for the right price, location, features and condition in homes in Narragansett RI. Narragansett RI 02882 Real Estate Market Statistics - January 2011.
Original blog published at Narragansett RI Real Estate Market Stats
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Ginny Lacey Gorman is your go to Realtor® for homes for sale in Narragansett RI and beyond...knowing the geographic area, schools, happenings, important tidbits of local information and businesses well. If you are looking for someone to guide you through the home buying or selling process, Ginny is a licensed Realtor® and would be happy to assist you. Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard. So feel free to search for RI homes for sale. When you are in need of more information from an internet savvy Realtor® who sells RI houses in this real estate market, call Ginny at 401.529.7849.
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